Foreword iii
Preface v
Inter-agency Task Force members ix
Executive summary xiv

I. Introduction and overview 1
Introduction 1
The financing challenge today 2
How did we get here? 3
Conclusion 13
Perspectives on the Fourth International Conference on Financing for Development 14

II. The global economic context and its implications for sustainable development 27
Introduction 27
Global and regional growth trends and outlook 28
Deterioration in public finances 30
Monetary and financial stability risks 33
Weak investment prospects 35
Labour markets 36
Climate risks and the global economy 37
Conclusion 38

III.A Domestic public resources 44
Key messages and recommendations 44
Domestic resource mobilization 45
International tax cooperation 51
Illicit financial flows 56
SDG-related expenditure and investment 57

III.B Domestic and international private business and finance 68
Key messages and recommendations 68
Investment trends in an evolving global economy: The long view 69
Aligning business with sustainable development 73
Aligning finance with sustainable development 79

III.C International development cooperation 98
Key messages and recommendations 98
Official development assistance 99
The role of MDBs 105
Blended finance and mobilized private finance 108
South-South cooperation 110
Finance for climate change and biodiversity 112
Quality, impact and effectiveness of development cooperation 114

III.D International trade as an engine for development 122
Key messages and recommendations 122
Trade trends: Long-term trends in trade since Monterrey 123
The multilateral trading system: Changing scope and geographies 127
Trade and sustainable development in a complex global landscape 129
Trade and development financing 136

III.E Debt and debt sustainability 144
Key messages and recommendations 144
Overview of global debt trends 145
Sustainable debt financing and the SDGs 150
Debt crisis prevention and resolution: Progress made and challenges ahead 154

III.F Addressing systemic issues 164
Key messages and recommendations 164
The global financial safety net 165
Financial market regulation and supervision for sustainable development 172
Payments and market infrastructure 175
Global governance and policy coherence 177

III.G Science, technology, innovation and capacity building 184
Key messages and recommendations 184
The transformational but uneven impacts of rapid technological change 185
Technology and financing for development: Fintech and the implications of STI for action areas of the Addis Agenda 196

IV. Data, monitoring and follow-up 208
Key messages and recommendations 208
Data frameworks for sustainable development 209
National statistical systems and funding 217